The Marina Palms Yacht Club financing package ranks as the fifth largest loan issued for a South Florida preconstruction project during the growth phase of this current real estate cycle, according to the preconstruction condo projects website CraneSpotters.com.

Other condo projects have obtained financing but for amounts of less than $110 million or under different structures, industry watchers said.

"The construction financing spigot for new condo towers in South Florida appears to be opening slightly," said Peter Zalewski, a principal with the Greater Downtown Miami-based real estate consultancy Condo Vultures® LLC. "Lenders are apparently moving forward cautiously to provide financing to proposed condo projects that appear to be on the path to completion. Lender financing does not necessarily mean a proposed condo project will succeed - as the last South Florida boom-and-bust cycle showed - but a loan commitment does provide some assurance to buyers that a developer's claims can be substantiated to a certain degree.

"The unanswered question going forward is whether more construction financing for proposed condo towers will lead to another South Florida boom-and-bust cycle."

CondoVultures.com has been profiling condo trends in the third quarter of 2013 in the 10 largest coastal markets in the tricounty South Florida region of Miami-Dade, Broward, and Palm Beach counties since the week of October 14, 2013.

In the Aventura market, a combination of domestic and international developers - in unrelated projects - are proposing to construct nine towers with nearly 1,100 new condo units in a market that stretches from Northeast 163rd Street north to the Broward County line, and the Atlantic Ocean west to Federal Highway as of November 15, 2013, according to the Preconstruction Condo Projects Database™ compiled by the licensed Florida brokerage CVR Realty™.

The total number of unsold new condos does not include any of the more than 8,000 units that were purchased in bulk transactions by investment groups that plan to one day resell the units at a premium, according to the Condo Vultures® Bulk Deals Database™.

A number of the newly proposed condo units are not expected to be completed until 2014 when the unsold developer inventory from South Florida's last real estate boom and bust is projected to be sold.

It is important to note there are various stages to a residential real estate transaction in South Florida.

A transaction begins when a property is made available for sale and ends when a title is conveyed from one party to another party as a result of the recording of a deed with the local government.

As part of the process, a property typically goes under contract and into a due diligence phase by which a deal can be canceled.

The CondoVultures.com new condo sales report is based on completed transactions where a deed is recorded and taxes paid as a result of the sale.

Condo Vultures® LLC is a real estate consultancy and marketing company based in the 225 Midtown Building at 225 NE 34th St., Suite 209B, Downtown Miami, Florida, 33137. Condo Vultures® LLC can be reached at 800-750-0517.